Stock Traders Buy Large Volume of Call Options on Navitas Semiconductor (NASDAQ:NVTS)

Navitas Semiconductor Co. (NASDAQ:NVTS) was the target of unusually large options trading activity on Thursday. Stock traders acquired 3,119 call options on the stock. This is an increase of 57% compared to the average volume of 1,987 call options.

Insider Transactions at Navitas Semiconductor

In related news, Director Richard J. Hendrix sold 80,000 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $4.04, for a total transaction of $323,200.00. Following the transaction, the director now directly owns 356,709 shares of the company’s stock, valued at approximately $1,441,104.36. The trade was a 18.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 31.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Navitas Semiconductor

Several institutional investors have recently modified their holdings of NVTS. Vanguard Group Inc. boosted its position in shares of Navitas Semiconductor by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 9,009,587 shares of the company’s stock worth $42,976,000 after purchasing an additional 232,496 shares in the last quarter. Point72 Asset Management L.P. lifted its holdings in Navitas Semiconductor by 87.5% in the third quarter. Point72 Asset Management L.P. now owns 8,031,474 shares of the company’s stock valued at $19,677,000 after acquiring an additional 3,748,124 shares during the last quarter. State Street Corp lifted its holdings in Navitas Semiconductor by 4.0% in the third quarter. State Street Corp now owns 5,826,638 shares of the company’s stock valued at $14,275,000 after acquiring an additional 221,575 shares during the last quarter. ArrowMark Colorado Holdings LLC increased its position in shares of Navitas Semiconductor by 31.2% during the third quarter. ArrowMark Colorado Holdings LLC now owns 3,556,379 shares of the company’s stock worth $8,713,000 after acquiring an additional 845,664 shares during the period. Finally, Masters Capital Management LLC grew its holdings in shares of Navitas Semiconductor by 90.0% during the second quarter. Masters Capital Management LLC now owns 1,900,000 shares of the company’s stock worth $7,467,000 after purchasing an additional 900,000 shares during the last quarter. 46.14% of the stock is owned by institutional investors.

Analysts Set New Price Targets

NVTS has been the topic of a number of analyst reports. Craig Hallum decreased their price target on Navitas Semiconductor from $6.50 to $4.25 and set a “buy” rating on the stock in a research note on Tuesday, November 5th. Robert W. Baird reduced their target price on Navitas Semiconductor from $7.00 to $5.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft reduced their target price on Navitas Semiconductor from $6.00 to $4.00 and set a “buy” rating on the stock in a research note on Tuesday, November 5th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $7.50 price target on shares of Navitas Semiconductor in a research note on Thursday, October 31st. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $4.75.

Navitas Semiconductor Stock Performance

Navitas Semiconductor stock opened at $3.77 on Friday. The company has a market capitalization of $704.22 million, a price-to-earnings ratio of -8.98 and a beta of 2.37. Navitas Semiconductor has a 12 month low of $1.75 and a 12 month high of $8.44. The business’s fifty day simple moving average is $2.48 and its two-hundred day simple moving average is $3.16.

Navitas Semiconductor (NASDAQ:NVTS) last released its earnings results on Monday, November 4th. The company reported ($0.06) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.06). Navitas Semiconductor had a negative return on equity of 23.64% and a negative net margin of 84.61%. The firm had revenue of $21.68 million during the quarter, compared to analysts’ expectations of $21.93 million. During the same quarter last year, the business posted ($0.10) earnings per share. The firm’s revenue was down 1.4% on a year-over-year basis. On average, equities research analysts predict that Navitas Semiconductor will post -0.51 EPS for the current year.

About Navitas Semiconductor

Navitas Semiconductor Corporation designs, develops, and markets gallium nitride power integrated circuits, silicon carbide, associated high-speed silicon system controllers, and digital isolators used in power conversion and charging. The company’s products are used in mobile, consumer, data center, solar, electric vehicle, industrial motor drive, smart grid, and transportation applications.